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February 14, 2012
Ikea company unveils rapid China expansion
Published: 28 Nov 09 12:00 CET | Double click on a word to get a translation
Online: http://www.thelocal.se/23538/20091128/
Inter Ikea Centre Group, (IICG) a sister company of the Swedish furniture retailer, has announced plans to build two new shopping centres in China, an investment worth $1,2 billion.
- Ikea affirms bid to ditch Swedish food brands (24 Jan 12)
- Ikea puts India expansion plans on ice (23 Jan 12)
- Celebrate the 'Year of the Dragon' in Stockholm (20 Jan 12)
A further development will be located in Wuxi in the eastern Jiangsu province and a company statement confirmed further investment in China is likely to surface in the future.
China is the group's first investment destination outside its home of Europe where it has interest in 13 countries.
Since its flagship China store opened in Shanghai in 2003, Ikea has added a further six stores across the country.
The Chinese market accounted for about two percent of Ikea’s global total in 2008.
“Although well-known in China, Ikea's pace of expansion has been relatively slow in the country,” said an IICG company statement.
“Now when Inter Ikea Centre Group moves into the Chinese market, both are expected to see accelerated development in China.”
IICG was founded in 2001 and is based in Copenhagen, Denmark.
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This is very good news. IKEA should be congratulated for its sucess.
It is good to see IKEA make inroads into the Chinese market place.
I hope IKEA's future expansion plans in China are sucessful and rewarding.
I see China as one among several of the "Catch 22" markets, where you have to sell your soul to the devil to gain access.
Problem is, sooner or later it tends to turn around and bite you in the fanny...
Of course ... you wont have the guts to do it ..... Really sell your soul to the devil ? ... and ... bite you in the fanny?
.... you mean like GM and Ford F*** Saab, Volvo and Sweden in the arzzzz
Your words are unkind, which country are you from.
You should thank God for the people and market that allowing your country to pay your social welfare.